SOL price rises past $130 due to its link with Bitcoin

The link between Solana and Bitcoin helped Solana pump past $130 today. However, this same link has caused Solana to accept significant losses over the past month. Why is Solana rising and how will Solana respond to the Bitcoin halving?

The price of Solana has been heavily influenced by the performance of the Bitcoin price in recent times. The biggest difference, however, is that Bitcoin fell 8.5% over the past week, while Solana had to accept a drop of more than 19% over the same period.

Solana price trend – why is Solana rising?

The correlation between Bitcoin and Solana has caused Solana to suffer significant losses during a period where Bitcoin also fell by $10,000 towards a value below $63,000. Bitcoin is worth $62,958 at the time of writing. While Solana managed to rise above $200 not so long ago, the price is now only around $137.

However, the stock was in even worse shape yesterday after falling below $130. However, a Bitcoin revival has also allowed Solana to rise above $130 again.

Solana’s difficult period is somewhat unexpected, given that the platform was the center of the Meme Coin Mania in March. During this period, Solana meme tokens such as BOME and WIF, tokens developed on the Solana blockchain, achieved incredible profits.

However, this success was accompanied by some difficulties and the hustle and bustle on the Solana blockchain quickly led to problems. The Solana network was unable to complete all its transactions and at one point, 75% of all transactions executed failed. This formed an important obstacle to the further success of the Solana race and possibly also led to his current bad period.

Yet there is still hope among Solana holders. With the upcoming Bitcoin halving event, Bitcoin is expected to experience significant increases. Due to its link with the Bitcoin price, it is expected that Solana can optimally benefit from this trend reversal within the Bitcoin market.

A new crypto rally could easily push SOL’s price towards $150. From this point we can then look at the important limit of $200. However, his all-time high of $260 still seems far away. For this, the SOL price will have to double in value.

Even though the Bitcoin Having will take place next Friday, many investors do not expect the prices of Bitcoin and Solana to rise significantly immediately. Historically, it has often taken several months for the biggest gains to be realized.

For this reason, many investors are shifting their attention to alternative tokens that can realize significant gains in the short term. Below we discuss three of the most promising altcoins of the moment.

Dogeverse (DOGEVERSE) – take advantage of the Meme Coin Mania through this Dogecoin alternative

Dogeverse is developing a multi-chain alternative to Dogecoin, the world’s largest meme coin. Dogeverse does this by developing its native DOGEVERSE token for multiple blockchains. The DOGEVERSE token will be available for the Ethereum, Polygon, BNB, Base, Solana and Avalanche blockchains, among others.

Users can take full advantage of this multi-chain alternative. This way, they can benefit from improved liquidity that will ensure cheaper and faster transactions. In addition, they can of course also benefit from the best benefits and features of these blockchains.

Another great milestone has been achieved for #DOGEVERSE! 🚀

Surpassing the $6,000,000 mark already! 💰

Cosmo couldn’t be happier! 🐶😊

Keep it up #DOGE lovers! 🌟 pic.twitter.com/JlXMxCfqoS

— DogeVerse (@The_DogeVerse) April 17, 2024

Dogeverse has a total token supply of 200 billion tokens and 30 billion of these are available in the presale that is currently live. Even though the presale is live, users can already start staking their purchased tokens. In total, 20 billion tokens have been reserved for staking rewards.

The presale has already managed to raise over $6 million despite only recently starting. The price of a Dogeverse token is currently $0.000296 each, but this price will increase within 20 hours, or when $6.1 million has been raised.

Slothana (SLOTH) – new Solana meme coin

Slothana is a recently launched meme coin on the Solana blockchain that aims to match or even overtake its predecessors such as WIF and BONK. The Solana blockchain has recently achieved success within the meme coin market and Slothana could easily be the next.

Slothana’s presale managed to raise more than $10 million in a short time, further confirming how popular this token has become. A major reason for this success is its send-to-wallet airdrop system that made it very easy for users to participate in the Slothana presale.

Investors now have less than 12 days to go before the presale closes now that the $10 million hard cap has already been met. 1 SOL token gives you 10,000 SLOTH. This equates to approximately $0.0137 per SLOTH token.

Mega Dice (DICE) – new crypto from well-known online casino

Mega Dice is an online casino that distinguishes itself through its wide range of casino games and sportsbook. With the launch of DICE, the developers of this project have now chosen to develop their own token.

This token provides users who play in online casinos with additional benefits. They receive cashback bonuses and also have a chance to receive airdrop tokens and NFTs.

Mega Dice hopes to emulate the success of predecessors such as Rollbit and TG.Casino. Rollbit, for example, has already almost achieved a market cap of $ 1 billion and currently still has a large market cap of over $ 300 million.

The DICE token presale recently went live, but has already raised over $330,000. Tokens currently cost $0.069 each. DICE tokens can be purchased via SOL, ETH and BNB.

Disclaimer: This article contains insights from independent authors and is not part of the editorial content of BitcoinMagazine.nl. This is not investment advice, please do your own research.